Financial planning for athletes

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Athletes need a financial advisor more than the average person, could come at any time due to injury or unforeseen.

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Top Financial Tips For Athletes From KC Chiefs' Financial Mentor - Forbes
The first thing to look for is direct experience with athletes and their families, and an understanding of the unique earning potential in a. This guide addresses some of the more important elements of financial planning for professional athletes, from managing current cashflow to combatting the. Financial planning for athletes ensures financial stability during and after the player's career. Use these 6 steps for long-term success.

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Finance is not emphasized in most educational systems, so many athletes may not understand the implications of their current decisions. Many professional sports players, derive significant liquidity through their income, and that can come with additional taxation. Your retirement planning will always be different from a worker with a more traditional job. The jock tax is an income tax that requires entertainers, athletes and other people associated with sports teams such as trainers, coaches and doctors to pay tax on money they earn outside their home states. Due to the relatively short career span of professional athletes, it is important to put any excess liquidity to work early on to maximise this potentially limited earning window.

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